South Korean cosmetics giant LG H&H Co. said on Thursday that it will run an open innovation program with the US-based Draper Startup House (DSH) to support beauty tech startups domestically and internationally.
DSH, a subsidiary of the legendary Silicon Valley venture capital firm Draper Fisher Jurvetson founded by Tim Draper, provides comprehensive incubation services, identifying, investing in, and nurturing promising startups in over 35 locations across 20 countries.
Starting November 1, LG H&H will collaborate with DSH to launch this startup incubation program. In mid-November. It plans to open the DSH Korea Center in Garosu-gil, Gangnam, Seoul.
The DSH Korea Center will serve as a startup incubator and networking platform, for attracting beauty tech startups from Korea and abroad. DSH will offer consulting services with experts in various fields, including technology development, marketing, investment, and global reach.
The center will help discover outstanding startups through the TV series Meet the Drapers, which features a dedicated beauty track episode created exclusively for LG H&H.